| Redeeming Certificate of Accrual on Treasury Securities |
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slr1
New Member
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Joined: 18 Dec 2004
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| Redeeming Certificate of Accrual on Treasury Securities |
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Can someone please tell me how to redeem a Certificate of Accural on Treasury Securities? I have contacted my local bank, Treasury Direct, several federal reserve banks, and the Treasury Dept. Each telephone call simply refers me to someone else. I've had this Certificate in my possession for many years, and it matured last year. Certainly there must be some way to redeem it. Any information in this regard would be appreciated. Thanks.
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Sat Dec 18, 2004 2:07 pm |
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bizwizzle
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Joined: 19 Dec 2004
Location: Orlando Fl
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| Try this link and see if it gives you an answer |
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Hi,
One of the things that I enjoy most with helping people is finding information online.
Try this link, it has a lot of questions and answers and it looks like it may give you the directions on how to redeem what you are trying to do.
http://www.treasurydirect.gov/rs/TDHelp/faq.html
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Sun Dec 19, 2004 3:39 am |
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slr1
New Member
Cash: $ 0.65
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Joined: 18 Dec 2004
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| Redeeming Certificate of Accural on Treasuy Securities |
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Thanks, Judy. Unfortunately, I checked the Treasurydirect website, reviewed the information, and called them four times. Each time, I was given different telephone numbers to call. Treasurydirect does not redeem the certificates and does not seem to know how to do so. I really can't believe this is so difficult. Any other suggestions??
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Sun Dec 19, 2004 1:45 pm |
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Carl
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Joined: 29 Dec 2004
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Hi: I'm having the same problem, my Mom purchased a CATS for my son and I am pulling my hair out trying to get it cashed. I am trying to go through my finacial investment company. They want to charge a nominal fee, yet they have not sent me the necessary paper work to get this done.
I have done the web search thing for Morgan Trust who was the original issuer of the certificate, but alas they have had their assets purchased by some other company and are long gone.
Should I find something that works I'll post it here.
Carl
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Wed Dec 29, 2004 1:16 am |
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slr1
New Member
Cash: $ 0.65
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Joined: 18 Dec 2004
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One of the many phone calls I made was to the Treasury Department. They told me that CATS had been issued by Salomon Brothers, and I would have to contact them directly. Salomon Brothers is now, apparently, part of Smith Barney. I left a message with someone in their Chicago office but received no call back.
Morgan Trust, from what I understand, is JP Morgan. JP Morgan, I believe, merged with Chase, who merged with Bank One - so Bank One was one of my first contacts. Their investment banker carefully reviewed the certificate, made a few telephone calls, but could not figure out how to redeem it.
I'm learning more about mergers, buy-outs, and investment firms than I ever wanted to know - everything but how to redeem this damned Treasury Certificate! Please post if you learn anything more.
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Wed Dec 29, 2004 5:55 pm |
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xboxundone
Senior Member
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quote:
Originally posted by slr1
One of the many phone calls I made was to the Treasury Department. They told me that CATS had been issued by Salomon Brothers, and I would have to contact them directly. Salomon Brothers is now, apparently, part of Smith Barney. I left a message with someone in their Chicago office but received no call back.
Morgan Trust, from what I understand, is JP Morgan. JP Morgan, I believe, merged with Chase, who merged with Bank One - so Bank One was one of my first contacts. Their investment banker carefully reviewed the certificate, made a few telephone calls, but could not figure out how to redeem it.
I'm learning more about mergers, buy-outs, and investment firms than I ever wanted to know - everything but how to redeem this damned Treasury Certificate! Please post if you learn anything more.
Man i bet when these things were originally purchased they were bending over backwards to take oyur money  sorry to hear you are having so much trouble to redeem them.
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Wed Dec 29, 2004 7:31 pm |
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Carl
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Cash: $ 0.42
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Joined: 29 Dec 2004
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I have been suscessful!
My CATS is held with US Bank Corporate Trust Services the phone number to check on other bonds that they hold is 800 - 934 - 6802.
Unfortunately you must go through automatic answering push button HELL, but when you can push a button press 4 then either 1 to enter your bond Cusip # or 2 after pushing 2 press the * key and wait for a live person.
If your bond is a TIGER one that phone number to verify is 800 - 275 - 2048.
There is not a redemption fee for my CATS bond
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Thu Dec 30, 2004 8:50 pm |
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marotta
Senior Member
Cash: $ 81.84
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Joined: 19 Nov 2004
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| Re: Redeeming Certificate of Accrual on Treasury Securities |
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quote:
Originally posted by slr1
Can someone please tell me how to redeem a Certificate of Accural on Treasury Securities?.
It can make your investing easier to get an account when they will automatically be redeemed for cash at the maturity date.
David John Marotta
Marotta Asset Management, Inc.
Fee-only Financial Planning
http://www.emarotta.com
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Sat Jan 01, 2005 12:02 am |
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younggreenanne
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Joined: 24 Feb 2005
Location: Dallas, TX
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| CATS - how to redeem??? |
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Has anyone has luck with this?
I have a Certificate of Accrual on Treasury Securities from 1984 that reached maturity last October, and I have no idea what to do - and neither does my bank! It was issued by Morgan Guaranty, so I've contacted JPMorganChaseBankOne, Treasury Dept., and Federal Reserve, with no luck.
Has ANYONE had luck with redeeming these? Any opinions on what my next step should be?
Thanks so much!
--Anne in Dallas, TX
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Thu Feb 24, 2005 5:28 am |
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twoyaks
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Joined: 30 Mar 2005
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| Cats how to redeem |
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Finally after a year of trying to reddem my CATS I found a way. Look at you CUSIP number on the bond (http://www.cusip.com/) its the ID # of the bond . Mine was issued by Morgan Trust. The redeeming agent is First Chicago,
Hope this helps.
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Wed Mar 30, 2005 12:59 pm |
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younggreenanne
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Joined: 24 Feb 2005
Location: Dallas, TX
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| Success: I have my money! (... and here's how I did it) |
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US Bank's Corporate Trust Services handled it for me with no service charges and they seemed very efficient.
Their phone number is 1.800.934.6802 and they said they handle these all the time.
Once I confirmed details with them over the phone, all I had to do was send the original certificate via REGISTERED, insured mail with Return Receipt Requested to their office in St. Paul. MN. (That cost about $12.00.)
Registered mail is kept under lock and key in transit, so you definitely want to send it that way; this is essentially the same as mailing cash.
I had my check for the full face value six days later. Good luck to anyone else who's trying to find out how get their money. I hope I just saved you some time and frustration!
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Wed Mar 30, 2005 5:47 pm |
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brekke8
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Joined: 01 Mar 2008
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My Morgan Trust Cats bond has a maturity date of 2004, however the interest due date is 2012 at 13 1/4% interest. Will I continue to accrue interest if I hold the bond till 2012
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Sat Mar 01, 2008 4:22 pm |
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